My father holds agriculture land outside India. He received 150000 from such land which is renting …
My father holds agriculture land outside India. He received 150000 from such land which is renting for agriculture purpose. As the agriculture income is exempt, does he need to pay tax on such income?
Jeeba Jun. 14, 2018
Yes, your father has to pay tax on such income.
Agriculture income from the land situated in India is tax-free. However, Section 10(1) of the Income Tax Act states that agriculture income from a land situated outside India shall not exempt from tax, hence it is taxable.
So, the income of 150000 from an agriculture land is taxable.
